Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The daily Davis Index for Turkish imports of US-origin HMS 1&2 (80:20) remained unchanged at $295/mt cfr on Wednesday due to a lack of deals.


However, negotiations resumed slowly as some Turkish mills require scrap cargoes for October shipment. With bookings for November shipment around the corner for all mills, some of them opted to evaluate scrap availability and prices to gauge the market, considering possible purchases. 


Some deals are expected in Turkey later in the week after a lull of almost two weeks.


Lira devaluation impacts local rebar prices

Daily domestic spot rebar prices in Turkey climbed by TRY20/mt ($3/mt) from the upper end of the previous range to TRY4,080-4,130/mt ex-works, including 18pc VAT, on Wednesday amid currency fluctuations. Icdas decided to raise rebar price for the third consecutive day, this time by TRY20/mt ($3/mt) to TRY4,190/mt ex-works, including 18pc VAT.


The daily exported rebar prices in Turkey were unchanged at $455-460/mt fob.


($1 = TRY7.71)

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